(UTV|TEHRAN) – A new Swiss payment mechanism has launched which allows humanitarian aid to be sent to Iran without falling foul of US sanctions.
Cancer and transplant patients are the first to have benefited.
The US said the channel was subject to “strict due diligence measures to avoid misuse by the Iranian regime”.
Humanitarian supplies are exempt from the US sanctions, but the measures have deterred several foreign banks from doing any business with Tehran.
The Swiss government said the new payment mechanism was aimed at ensuring that companies based in Switzerland had a “secure payment channel with a Swiss bank through which payments for their exports to Iran are guaranteed.”
“In this way, Switzerland is helping to supply the Iranian population with agricultural commodities, food, medicines and medical equipment. This is in keeping with Switzerland’s humanitarian tradition,” it said.
Under the rules of the new mechanism, the US provides assurances that transactions are not violating sanctions, the Swiss government statement added.
In turn, exporters and participating banks provide information on their business activities and partners in Iran.
As a pilot transaction, a payment was made for a shipment of cancer drugs and drugs required for organ transplants worth some €2.3m ($2.55m; £1.9m).